Biotechnology pioneer Genentech announced plans to build a $700 million manufacturing facility in Holly Springs, North Carolina, creating over 400 new jobs, Governor Josh Stein announced Monday. The 700,000-square-foot plant will be the company's first East Coast production facility and represents a significant expansion of North Carolina's already robust life sciences sector.
The new high-volume fill-finish operation will support Genentech's existing product portfolio and future pipeline, helping the company meet growing demand for its medicines that treat serious and life-threatening diseases.
Economic Impact and Job Creation
The project is expected to have a substantial economic impact on the region. New positions at the facility will offer an average salary of $119,833, significantly exceeding Wake County's average wage of $76,643. The annual payroll impact is projected to exceed $50 million.
"World-class companies like Genentech recognize that North Carolina is a leading state for biotechnology," said Governor Josh Stein. "These companies know that our life science workforce is ready to help them deliver their cutting-edge medicines to the world. We are proud to welcome Genentech to North Carolina."
Over a 12-year period, the project is estimated to grow North Carolina's economy by more than $3 billion. State officials note that for every dollar of potential public cost, the state will receive $3.30 in state revenue, representing a 230% return on investment.
Strategic Expansion for Genentech
Genentech, headquartered in South San Francisco, California, is a member of Switzerland's Roche Group and is widely considered the original biotechnology pioneer. For more than 40 years, the company has developed groundbreaking medicines for patients with serious diseases.
"Genentech would like to thank Governor Stein and Commerce Secretary Lilley for their support and for welcoming us to North Carolina," said Genentech CEO Ashley Magargee. "We are thrilled to establish this relationship with the city of Holly Springs, where we will create new manufacturing and construction jobs while making a broader positive impact on the local economy and community for many years to come."
Magargee added that the new facility "will serve as an important new setting within our manufacturing network to help deliver on the promise of our company's life-changing science and industry-leading pipeline."
Public-Private Partnership
The expansion is being facilitated in part by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee. Under the agreement, Genentech could receive up to $9,846,750 in reimbursements over 12 years, contingent upon meeting job creation and investment targets.
Because Genentech chose to expand in Wake County, classified as Tier 3 in the state's economic tier system, the agreement also allocates $3,282,250 to the state's Industrial Development Fund – Utility Account, which helps rural communities finance infrastructure upgrades to attract future business.
"Our momentum in biotech is off the charts as these new jobs and new investment come to Holly Springs," said N.C. Senator Lisa Grafstein. "Genentech is a renowned brand in the industry, and we welcome the company to our growing family of life science partners."
Growing Biotech Hub
The announcement further solidifies Holly Springs and the broader Research Triangle region as a growing hub for biotechnology manufacturing. The area has recently attracted other major life sciences investments, including a new Amgen campus in Holly Springs.
The project involved collaboration among numerous state and local entities, including the North Carolina Department of Commerce, the Economic Development Partnership of N.C., the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, N.C. State University, Wake Tech, the Town of Holly Springs, and Wake County Economic Development.
Construction timelines and specific hiring plans for the new facility have not yet been announced, but the project represents a significant long-term investment in North Carolina's biotechnology infrastructure and workforce development.
